Best Insurance Options for Photographers and Videographers

Photographers and videographers are constantly finding themselves at new locations capturing images meaningful to their clients. But this job doesn’t come without risk. Photographers and videographers need various insurance policies such as general liability insurance and commercial auto insurance to protect themselves from losses. Let’s discuss why insurance is essential for this group and who the best providers are to get insurance from. 

Why Insurance is Essential for Photographers and Videographers

Running around a venue being invisible and capturing special moments is the goal of photographers and videographers. But this might come with accidents such as bumping into someone holding a drink and ruining their tux or someone stealling their equipment. While most states won’t require a photographer or videographer to carry general liability insurance, they likely will need to have workers’ compensation insurance to protect any employees they have. Understanding the risks is important to getting the right policy.

Top Insurance Providers for Photographers and Videographers

Best Overall: NEXT Insurance

Best Underwriting: The Hartford

Best Marketplace: Simply Business

Best Overall: NEXT Insurance

Why we chose it: Most photographers and videographers are a small operation that will benefit from NEXT’s pricing focus on the micro business. 

NEXT Insurance was founded in 2016 to focus on small business insurance for the little guy. They make getting a policy easy with a simply online questinaire that helps you get the quote and complete the application. Pricing is designed for small businesses and is some of the most competitive insurance rates on the market. A videographer business can get general liability, commercial property, and workers’ compensation from NEXT.  

Best Underwriting: The Hartford

Why we chose it: The Hartford’s underwriting representatives are experts that understand the risks of a photographer and videographer’s business, ensuring the right coverage is obtained for a competitive price. 

The Hartford has been offering insurance since 1810 and is considered one of the largest insurers for small businesses on the market. It prides itself on its underwriting that takes into consideration the specific risks of an industry niche. This is to make sure that the right policy is provided to clients who need certain coverages. The Hartford offers a wide gamut of insurance products including commercial auto, general liability, and workers’ compensation insurance. 

Best Marketplace: Simply Business

Why we chose it: Simply Insurance shops rates and helps small business owners find the most competitive premiums for the policies they need in a simple application process. 

Simply Business is a spin off of the original Medu Netjer LLC that focused on life and health insurance. The company pivoted in 2016 to Simply Insurance, creating a leading marketplace for small business insurance needs. Photographers and videographers can find the gamut of insurance products they need in one place and feel comfortable knowing they have gotten the best possible deal for their premiums. 

Key Types of Insurance for Photographers and Videographers

There are several common types of insurance that most photographers and videographers might need:

• General liability insurance: This covers third party accidents where someone gets hurt or has property damage as a result of the photographer’s business operations. 

• Professional liability insurance (errors and omissions): This covers professional mistakes made that can lead to financial loss or bodily injury. 

• Equipment insurance: This covers equipment that can get damaged or lost due to theft, fire, or accident. 

• Workers’ compensation insurance: If a photographer has an assistant, he needs to offer workers’ compensation insurance to pay for injuries and lost wages of employees hurt on the job. 

• Business owner’s policy: This is a combination policy that has both general liability and business property coverage.

Factors to Consider When Choosing Insurance

There are some specific factors to consider when choosing insurance providers: 

• Analyzing your specific risk exposure: The more business you do and the more equipment you own, the more insurance you’ll need. 

• Assessing the value of equipment and intellectual property: You should know how much your equipment is worth and value any intellectual property you may own to get the right amount of protection. 

• Evaluating customer service and claims process: Do your research and see how a company fares with reviews and customer satisfaction. 

Tips for Reducing Insurance Costs

Here are some tips to help you reduce insurance costs. 

Bundling Different Types of Insurance

Combine different policies to get a discount on premiums. Consider a policy such as a business owner’s policy that combines policies, using one underwriting process to save administrative costs. 

Regularly Reviewing and Updating Policies

Make it a point to review policies once a year or if something substantial changes in your business. You may be eligible for new discounts or can save if business has slowed compared to the previous season. 

Implementing Risk Management Practices

Insurance companies often give discounts for companies that implement risk management practices that reduce the chances of a claim. Talk to your insurance company to see what types of practices can help you save money. 

Conclusion

Photographers and videographers can protect themselves from costly claims by having the right insurance products in their portfolio. Consider NEXT Insurance as the provider for key policies that cover the most important risks your business faces.